- A seasoned trader who invested $145 million in SHIB in 2021-2022 suffered huge losses.
- Amid the chaos surrounding the NEIRO meme coin, investors have been buying both tokens.
- Despite today’s exchange, ETH and SHIB are still the most popular assets in holders’ wallets.
Early investors in Shiba Inu (SHIB) have had impressive returns in 2021 and 2022, but the whale’s recent trades have been less fortunate. In September 2024, the same Waller made two massive trades out of three that ended in eye-watering losses.
The trade is a big loss on Nairo and he buys another one.
According to blockchain intelligence platform SpotOnChain, the Diamond Hand Shiba Inu holder initiated a series of transactions around 5:00 AM UTC on September 18, 2024. Interestingly, the major player decided to exchange 1,003 Ether tokens for 28.6B First Neiro On Ethereum (NEIRO).
The latest swap is worth about $2.31 million at the time of transaction, which is in contrast to previous on-chain movements by crypto investors. Since the unexpected listing of NEIRO on Binance a few days ago, the new meme coin has rallied by 1,700%.
Major players shuffled a lot of SHIB tokens for another similarly themed NEIRO 12 days ago. During that time, crypto whales succumbed to huge losses while buying NEIRO from the top local positions.
As a result, the whale has incurred an unrealized loss of $1.38 million or -51% from the 17.5 million NEIRO he originally held since September 6. These holdings are now worth just $1.32 million, having lost half of their value after Binance changed its mind about competing for dominance between the two NEIRO coins.
Are Ethereum Investors Buying at All-Time Highs Again?
After already seeing a massive 1,700% rally, the $2.31 million swap from Wrapped Ether (wETH) to the recently listed NEIRO may look like a similar strategy to when a major player swapped SHIB for other NEIRO tokens 12 days ago. The trader, who lost $13.5 million, bought the new meme coin during the September 6th pump, doubling from $0.073 to $0.154.
Whales continued to hold the first Neiro token, which hit a monthly high of $0.196 on September 10. However, after the Binance Neiro listing news hit the market, a massive sell-off on September 16 significantly reduced the wallets. In addition to being delisted from Binance’s margin product, NEIRO has plummeted by 53% in the past 7 days, but has yet to fall back to its monthly low of $0.02444.
On the other side
- The calculated deficit has not yet been realized, as whales continue to hold all of the digital assets in question.
- Early SHIB investors with a net worth of $26.713 million hold the largest stake in Ether (ETH), with 477.511 billion Shiba Inu coins in second place.
Why this matters
Carefully monitoring the decisions of experienced investors can provide valuable insights into timing the market correctly.
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